SINGAPORE (July 6): Mainboard-listed Yanlord Land Group reported a 65% increase in total contracted pre-sales to RMB29.77 billion ($5.87 billion) for 1H20 ended June, compared to RMB18.04 billion in 1H19.

Total contracted gross floor area (GFA) for 1H20 came in at 831,457 sqm, a 30.7% increase from 636,011 during the same period last year.

The bulk of the sales came from China. The top five cities that contributed to the rise in contracted pre-sales are Nanjing, Suzhou, Shenzhen, Nantong, and Hangzhou. The total contracted pre-sales from these cities stood at some RMB24.86 billion, which accounted for around 83.5% of the total figures in 1H20.

In addition, Yanlord recorded a total of some RMB4.00 billion of subscription sales as at June 30, which are expected to be subsequently turned into contracted pre-sales in the following months.

Shares in Yanlord closed 7 cents higher, or 5.6% up, at $1.31.